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Dec 31, 2022
Accel Entertainment Q4 2022 Earnings Report
Accel Entertainment reported increased revenue and net income in Q4 2022, driven by growth in video gaming locations and machine performance.
Key Takeaways
Accel Entertainment reported a strong Q4 2022, with revenue increasing by 17.1% to $99.5 million and net income rising to $7.5 million. The company's performance was driven by an increase in video gaming terminal (VGT) locations and improved revenue per VGT.
Q4 revenue increased 17.1% year-over-year to $99.5 million.
Net income for Q4 was $7.5 million, compared to a net loss in the prior year.
Adjusted EBITDA increased 12.4% to $25.8 million.
The company ended the year with 2,582 locations and 13,798 VGTs.
Forward Guidance
Accel Entertainment expects continued growth in 2023, driven by expansion in existing and new markets. The company anticipates capital expenditures between $45 million and $55 million.
Positive Outlook
- Continued expansion in existing markets
- Entry into new markets
- Growth in VGT placements
- Focus on operational efficiency
- Strong free cash flow generation
Challenges Ahead
- Potential economic slowdown
- Increased competition
- Changes in regulations
- Supply chain disruptions
- Uncertainty in consumer spending
Historical Earnings Impact
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Avg. Return Before/After Earnings
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